Magic Eden introduces multi-chain support for Ethereum and Solana to expand access for NFT creators and collectors
SAN FRANCISCO, August 2, 2022 /PRNewswire/ — Magic Eden (“the Company”), the leading community-centric NFT marketplace, announced today that it will be adding and integrating Ethereum (ETH) NFTs into its platform. Since its launch in Sep 2021Magic Eden has seen over 90% of secondary trade volume and $2 billion in total trade volume for transactions on Solana (SOL) NFTs, their first supported blockchain. This news accelerates Magic Eden’s efforts to expand its presence into Web3 communities by integrating the two largest blockchains for NFTs and providing the most feature-rich, multi-chain experience for developers and collectors.
Over the past 18 months, the SOL and ETH NFT markets have seen tremendous growth within their respective vastly different communities. Magic Eden aims to bring these two universes closer, believing that the social, cultural and bonding benefits of NFTs should be shared across chains. Through the multi-chain shift, Magic Eden enables NFT creators to launch seamlessly, reach new audiences and access additional liquidity, while collectors can discover new communities and connect across the passionate culture of the emerging space.
As a culture-driven and community-owned marketplace, Magic Eden’s ETH entry is designed to provide multi-chain solutions that can provide the best possible experience for both NFT creators and collectors. Together the features include: magic Eden list (a whitelist and audience targeting tool), Magical Eden launchpad (now with ETH/SOL compatibility) and Magic Eden Drop Calendar in August. Magic Eden is also conducting private beta testing to support the launch of a cross-currency trading product where users can browse the widest range of SOL and ETH NFTs and make purchases via SOL, ETH or credit card. Magic Eden will also launch analytical tools for cross-chain trading in the coming months.
To grow Magic Eden’s relationship with ETH NFT developers, the platform will build on its track record of providing world-class NFT launch support. Magic Eden’s ETH-compatible launchpad offers the same seamless minting setup, white-glove marketing support, and bespoke launch build-outs that have helped bring over 300 NFT projects to market.
In the coming weeks, Magic Eden will also present its cross-chain launchpad EPUa sister collection of the popular ETH project Psychedelics Anonymous, founded by Voltura (Lewis Storm). EZU will be the first native ETH project to be launched on Magic Eden, with the ability for users to mint in both ETH and SOL.
Creators of all chains will also be able to build pre-Mint traction and dive into Magic Eden’s extensive community footprint via a free whitelist and owner management tool called Magic Eden List. ETH developers interested in launching their own community marketplace can also leverage Magic Eden’s whitelabel marketplace solution during their launch and beyond.
Zhuoxun Yin, COO and co-founder of Magic Edencommented, “We want to honor the creators in this space by developing tools that meet their enormous needs – which is why we made Magic Eden List available as a free resource and developed a white-label marketplace solution.” Through our cross-chain launchpad, creators will unlock a new set of audiences through which to expand and grow their projects, as well as unlock additional sources of cash. Creators starting with Magic Eden no longer have to face the difficult decision of choosing one chain over another at the expense of limiting their potential audience reach. Web3 is a place where we can share knowledge and grow together.”
Collectors can also look forward to a range of trading tools that unlock access to deeper multi-chain experiences. Beginning in August, users can track the highly anticipated NFT coins on SOL and ETH via Magic Eden’s drop calendar. The Drop Calendar was created to provide the community with a resource that captures the most holistic view of upcoming mints in the NFT ecosystem. It will also integrate with Magic Eden List, allowing users to opt-in for whitelist access for projects using the tool. Magic Eden will also conduct private beta testing to develop a cross-currency trading product that will allow users to buy SOL and ETH NFTs with SOL, ETH or credit card. Future releases will also include multi-chain compatible analysis tools to inform collectors’ decisions and NFT trading.
Jack LuCEO and co-founder of Magic Edenadded: “We believe in a collective NFT community that exists across multiple chains. The introduction of collection tools like the cross-chain Magic Eden Drop Calendar will be the first step in realizing this vision. The launch of cross-currency buy support for SOL and ETH NFTs will build on our efforts. The more creators and collectors can reach across chains, the more we can collectively experience powerful cultural moments on the blockchain. We’re honored to be the target that will bring the next wave of users to the blockchain Web3 movement.”
About Magic Eden
Magic Eden is the leading community-centric NFT marketplace, driving the next billion users to Web3. Led by former crypto, technology and hospitality executives, Magic Eden is building an easy-to-use platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments to the blockchain, empowering users across thousands of digital communities to create, discover, and collect unique NFTs. Visit www.magiceden.io for more information.
About EZU|Psychedelics Anonymous
EZU, the sister project of Psychedelics Anonymous, is managed by Voltura (Lewis Storm) and the Voltura Labs team. Psychedelics Anonymous is a popular ETH collection that has traded over 38,000 ETH to date and has garnered widespread attention for its unique token utility and focus on mental health and community. EZU will be a collection offering holders the same mental health resources as Psychedelics Anonymous, but with the addition of a new range of products under the EZU brand.
M Group Strategic Communications (on behalf of Magic Eden)
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SOURCE Magic Eden